“I would positively recommend Metal Bulletin Research as a uniqueprovider of steel and its raw materials market analysis and forecasts”Michael Amez, Manager, A.T. Kearney, USA

Steeland itsRaw Materials

www.metalbulletinstore.com mbstore@metalbulletin.com +44 (0) 20 7779 8905

A Global Market Outlook to 2020

A long-term strategic study, available in two interdependent volumes

Volume 1: A Strategic Outlook for the Steel Industry to 2020

Volume 2: A Strategic Outlook for the Steel Raw Material Industry to 2020

Includes an interactive CD-ROM consumption forecast model by product and region

Includes key company coverage and data for over 75 steel companies worldwide

Revised &Updatedfor 2008From the experienced team of analysts that

brought you the highly acclaimed ‘Steel and itsraw materials’ in 2005

Acommon theme surrounding the global steelindustry in recent years has been a robust long-term outlook for steel demand from the

emerging economies, and constraints on supplygrowth for both steel production and its raw materials.The prices of coking coal, iron ore, energy and scraphave rocketed to unprecedented highs culminating insteel prices breaking the $1,000/tonne barrier.However, is the industry still poised for sustainedprofitability, strengthened by industrialconsolidation, or is a turning point in the currentsuper-cycle to be expected led by over-capacityand the subsequent fall in prices?

This 400 page report published by Metal BulletinResearch (MBR) provides a detailed andauthoritative analysis of past trends andforecasts to 2012 and further out to 2020 for thecomplete supply chain of the world steel industryfor all the key products and sectors:

• World steel demand by region and end-usersector

• The world steel industry by region: structure,capacity, costs, the leading steel companies andtheir strategies

• The demand and supply of raw materials, energyand sea freight

Is the global steel industry stillpoised for sustained profitability?

Order both volumes and save1/3 off the full price!See back page for details

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This report is presented in two volumes:Volume 1: Global steel consumption

Volume 2: Global steel production and raw materials supply

The report includes a CD-ROM which contains the interactive spreadsheet-based forecasting model.This takes regional GDP, investment and trade forecasts and calculates forecasts of steel consumptionby product, steel production by process route and region, and raw materials requirements.

Key features included in this report:400 pages, 450 tables and charts and a 5,000 line interactive Excel consumptionforecast model by product and region, access to analysts and spreadsheets

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� How long will the steel and raw material priceboom continue for?When, if at all, can we expecta severe market down-turn?

� Is the industry poised for sustained profitabilityor can we expect a turning point in the currentsuper-cycle resulting from over-capacity and leadingto dramatic falls in steel prices?

�Will there be an impending steel crisis inChina’s domestic market?

� To what degree will the global credit crunch affectglobal steel consumption?

� What are the trends for regional consumption byproduction route, consumption per capita andsteel intensity forecasts for the medium termperiod to 2012, and a longer term outlook to2020?

�Which steel end-user sectors are growing andwhich are declining?

� Raw materials and energy prices have followedsteel prices in their upward climb. The former due toshortages in the mines and the transport chainserving them, the latter due to high oil prices and

eventually to environmental penalties associatedwith combating climate change. Are these temporaryphenomena or will they be part of the steellandscape for future years?

�Where are prices for iron ore, scrap, cokingcoal, coke and freight heading?

� How and why will climate change andemissions policies have a fundamental impact onsteel production costs, competitiveness and thelocation of steelmaking?

� How are new steel technologies andmanagement processes responding to the neweconomics of raw materials and climate change.

� Where should new steel capacity be built and forwhich products?

� What are the problems facing Japan, S Korea andTaiwan, and why do their steel industries facedecline?

� What strategies are the traditional industries ofNorth America and Europe adopting to face newand emerging threats and challenges?

Key areas this major studyaddresses include:

Volume 1: A Strategic Outlook for theSteel Industry to 2020

Reviews of regional steelconsumption trends

Analysis of steel trade trends,capacity changes and companystrategies

Regional review of macro-economic trends: investment,industry, etc.

2007 Apparent consumption, trade,production by region and product

The prospects of the key steelconsuming sectors:construction, engineering,automotive, pipelines etc. byregion and globally

The relationship between steeldemand and the wider economy

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An in-depth strategic study on the global steel & raw materials industryavailable in two interdependent volumes

Steel consumption by region and major product group to2012 & 2020

• Billets & blooms• Slabs• Plate• HR coil and sheets• CR coil and sheets

• Galvanised coil andsheets

• Tin mill products• Rail and heavysections

• Rebar and wirerods

• Other sections andbars

Volume 2: A Strategic Outlook for theSteel Raw Material Industry to 2020

Technology and rawmaterials trends

Environmental issues

Supply and demand balance

Operating costs

Competitive advantageand likely future tradepatterns

Steel production by regionand process route 2007,2012, & 2020

Raw materials requirements to 2012 & 2020

• Scrap• DRI

• Iron Ore• Sea Transport

• Coal• Energy

Volume 1AStrategic Outlook for the Steel Industry to 2020

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The prospects for key steelconsuming sectors

• Steel usage trends

• Global business environment

• The growth and stagnant sectors from a steel perspective

Detailed analysis and forecasts of steel use by themajor user industries worldwide

Individual chapters providing detailed analysis andstatistics for: Construction; Automotive; Shipbuilding;Railway equipment; Domestic appliances; Packaging;Pipelines and OCTG; Plant and machinery

Steel product demand and supplytrends by major world regions

• Regional analysis and forecasting of economic, productionand consumption forecasts for each major steel product

• Strengths and weaknesses of each region

• Forecasting methodology

• Key consumer sector trends by region

• Trends in steel production, consumption and trade out to2020, and the regional product mix

• Steel company consolidation trends, capacity data, newinvestment and strategy analysis for the major steelcompanies in each region

• Greenfield/brownfield capacity additions in each region

Statistical databankDetailed historical and forecast statistical tables and analysisof production, trade and consumption for 2008-2020:

• by major country/region

• by each steel product including slabs, billets, plate, hotrolled coil, cold rolled coil, plate, galvanised, tinplate,heavy sections/rails, reinforcement bar and products, otherlong products

Price analysis, forecasts andstrategy implications

• Detailed analysis and forecasts of steel product prices

• Relationship between prices and costs

• Margin analysis

• Scenario analysis and strategy conclusions

Individual chapters for:China; South Asia; IndustrialAsia (Japan, Korea, Taiwan);SE Asia; the Commonwealthof Independent States;Europe; North America;South and Central America;Middle East/North Africa;Africa; Australasia

Key products featured:Billets & blooms, Slabs,Plate, HR coil and sheets,CR coil and sheets,Galvanised coil and sheets,Tin mill products, Rail andheavy sections, Rebar andwire rods, Other sectionsand bars

Key company data forover 75 companies,covering the majority ofsteel production in eachworld region. Includes:ArcelorMittal, ThyssenKrupp,Riva, Salzgitter, Voestalpine,US Steel, Nucor, Baosteel,Posco, SAIL, Tata Steel,Gerdau, Magnitogorsk,Severstal, Bluescope, JFE,Nippon Steel, Erdemir andmany more

Volume 2AStrategic Outlook for the Steel RawMaterial Industry to 2020

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Crude steel production and rawmaterials demand analysis

• Global production by process route

• Regional costs and comparative advantage analysis insteelmaking affecting location and choice of process route

• The impact of climate change and emissions control onfuture steelmaking

• Location of steelmaking and the trade in semis

Steel raw materials and thesupply chain

Supply and demand analysis and forecasts for: ferrousscrap, iron ore; metallics (scrap, DRI/HBI, pig iron); coke andcoking coal markets

The ferrous scrap market• Types of scrap collection and distribution, how the price is

fixed

• Scrap generation by region

• The elasticity of scrap supply with respect to price

• Trends in scrap trade

• Legislative/recycling issues

DRI/HBI and pig iron• The growth of DRI and pig iron

• Supply and demand analysis of production, consumptionand trade and price trends

• Technical and cost developments

Iron ore supply• How prices are fixed and future contract/spot trends

• Trends in supplying countries, the main companies andtheir strategies

• Concentration and market dominance, profits in oreand steel

• Trends in the use of pellets, lump and sinter - the factorsaffecting choice

• The politics of the iron ore business and the future roleof China

The supply of coal and coke• Blast furnace practices and future coal and coke

requirements

• Coke production and trade – future trends

• The main suppliers of metallurgical coal and theirstrategies

• Price setting – differentials between steam andmetallurgical coal

Transportation• The method of transportation

• Trends in freight rates and their impact on steel trade

• Futures market and price trends in bulk freight rates

• The implications for steel makers

Environmental/technical changes• Environmental impact reduction: greenhouse gas emissions

by process route and alternatives

• Cost reduction measures: the scope for steel productionperformance improvement in existing plants

• Cost reduction: the introduction of new steel technologies

Relative cost of differentsteelmaking routes

• Cost modelling utilising differing assumptions on processroutes

• Relating analysis to actual regional differences insteelmaking costs

• The impact of technology

• Impact on future costs, given possible and likely changes inraw material, energy and transport costs

Forecast supply, demandbalances and price analysis

• Trade and production by region – current patterns

• The issue of splitting steelmaking from rolling, and thefuture trade in semis

• The impact of changes in input and transport costs onsteel production locations

• The demand and price dynamics for steel raw materials

• Key price and margin analysis and forecasts

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The report is an indispensable tool for:• CEOs, board members, strategic planners, marketing

directors of steel companies and mining companiesworldwide

• Investors, fund managers, and financiers of steel andmining projects

• Government policy makers and planners

• Steel traders

• Trade associations

• Consultants and market researchers

• Business schools

Brian LevichBrian is MBR’s Head of Research and specialises in thesteel and raw material sectors. He has writtennumerous major studies on the steel industry and hasconducted extensive consultancy and market researchfor a number of major steel producers, consumers, andfinancial institutions.

Mike MyttonMike is a renowned industry consultant and works inthe areas of business planning, financial modelling,logistics and market studies. He has wide experience inEurope, CIS, Asia and Latin America – carrying outfeasibility studies, due diligence for banks and actingas an advisor in M&A activities.

Stuart ReynoldsStuart is an industry economist who spent over 25 yearswith Atkins Management Consultants, carrying out steelinvestment, privatisation and restructuring plansworldwide, particularly in the EU and Central Europeanregions and Asia, as well as industry strategy studies forengineering, construction and related sectors.

Dr Philip RogersPhilip is an internationally recognised dry bulkshipping expert. As well as being Head of Research atleading shipbroking companies for the past 20 yearshe is also Professor and Dean of CopenhagenBusiness School’s MBA in Shipping and Logistics. Hehas extensive practical experience including manyyears at sea serving on bulk carriers, tankers andgeneral cargo ships.

Biographies

Key features of this report include:• 400 pages• 450 tables and charts• 5,000 line interactive Excel consumption forecastmodel by product and region

• Access to analysts• Access to spreadsheets

“Undeniably Metal Bulletin Research is an information provider throwingan objective light on often bifurcated information. Essential!”Krista Van Bergen, SteelFORCE Asia NV

Order both volumes and save1/3 off the full price!See back page for details

www.metalbulletinstore.com

For more information please visit www.metalbulletinstore.com or call +44 (0)20 7779 8905or email mbstore@metalbulletin.com

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Steel and its Raw Materials: A Global Market Outlook to 2020Volume 1: A Strategic Outlook for the Steel Industry to 2020 Volume 2: A Strategic Outlook for the Steel Raw Material Industry to 2020

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Key features of this report include:• 400 pages• 450 tables and charts

• Access to analysts• Access to spreadsheets

• 5,000 line interactive Excel consumptionforecast model by product and region